KUALA LUMPUR: Sime Darby Plantation Bhd is continuing its engagement with the US Customs and Border Protection (CBP) and expects to submit the report by Impactt Ltd in the first quarter this year.
"Following that, the US CBP will review the report and the company will continue its engagement during the process with the intention of lifting the withhold release order (WRO)," its chief financial officer Renaka Ramachandran said during the company’s briefing on its fourth-quarter financial performance today.
Sime Darby Plantation in March last year appointed Impactt Ltd as a third-party assessor to its newly established Expert Stakeholder Human Rights Assessment Commission.
Impactt is an ethical trade consultancy with specific expertise in detecting and remediating forced labour issues in company supply chains in line with the International Labour Organisation’s 11 indicators of forced labour.
The plantation company today announced its results for the financial year ended Dec 31, 2021 (FY2021), which saw net profit jump 90 per cent to RM2.26 billion from a year ago, on higher crude palm oil and palm kernel prices.
Better oil extraction rates, which compensated for the lower fresh fruit bunch (FFB) production, also contributed to the growth in earnings.
Revenue surged to RM18.69 billion versus RM13.08 billion while its basic earnings per share stood at 32.60 sen against 17.20 sen before.
The company has approved a final dividend of 12.38 sen per share for FY2021. - Bernama
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